Hesai Group (NASDAQ:HSAI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Hesai Group from a sell rating to a hold rating, adding to generally positive analyst sentiment. The stock now has a consensus Buy rating and a consensus target price of $30.12.
• Hesai shares fell 1.5% on Friday to $16.16, trading below both its 50-day and 200-day moving averages. The stock has ranged between $14.40 and $30.85 over the past year.
• Recent earnings topped expectations, with quarterly EPS of $0.02 versus $0.01 expected and revenue of $98.71 million versus $96.50 million estimated. Institutional ownership remains significant, with 48.53% of shares held by institutional investors.

Hesai Group (NASDAQ:HSAI - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday.

A number of other research firms also recently weighed in on HSAI. BNP Paribas Exane initiated coverage on shares of Hesai Group in a research report on Thursday, March 26th. They set an "outperform" rating for the company. Weiss Ratings cut shares of Hesai Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $30.12.

Hesai Group Stock Down 1.5%

Shares of NASDAQ:HSAI traded down $0.24 during trading on Friday, hitting $16.16. The company's stock had a trading volume of 1,751,278 shares, compared to its average volume of 1,898,474. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97. Hesai Group has a fifty-two week low of $14.40 and a fifty-two week high of $30.85. The stock's 50-day moving average price is $19.09 and its two-hundred day moving average price is $22.47. The company has a market capitalization of $2.26 billion, a PE ratio of 36.73, a PEG ratio of 0.62 and a beta of 1.35.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The firm had revenue of $98.71 million during the quarter, compared to analyst estimates of $96.50 million. As a group, sell-side analysts expect that Hesai Group will post 0.66 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

Several large investors have recently added to or reduced their stakes in HSAI. Vanguard Group Inc. raised its holdings in shares of Hesai Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company's stock worth $91,984,000 after purchasing an additional 28,102 shares during the period. Schroder Investment Management Group grew its position in shares of Hesai Group by 17,419.6% during the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company's stock valued at $46,276,000 after buying an additional 2,054,114 shares during the last quarter. Wellington Management Group LLP raised its stake in Hesai Group by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company's stock worth $42,303,000 after acquiring an additional 38,312 shares during the period. Deutsche Bank AG boosted its position in Hesai Group by 124.6% during the 4th quarter. Deutsche Bank AG now owns 1,624,870 shares of the company's stock valued at $36,397,000 after purchasing an additional 901,370 shares during the period. Finally, National Bank of Canada FI boosted its position in Hesai Group by 108.4% during the 3rd quarter. National Bank of Canada FI now owns 1,482,116 shares of the company's stock valued at $41,647,000 after purchasing an additional 770,816 shares during the period. 48.53% of the stock is currently owned by institutional investors.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.

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